by vmception on 12/17/20, 8:14 PM
When the share market is hot, sell shares.
When the credit market is hot, issue debt.
When the consumer spending is hot, sell more product.
Many people don't get this, specifically that this concept is not married to any particular entrepreneurial idea, and many founders are following these financial axioms, not product line passions.
Way to go Coinbase for getting the ducks in a row.
by JoshTko on 12/17/20, 7:19 PM
Argument in investing in Coinbase has seemingly decreased over time. Few users actually care about owning bitcoin in a true bitcoin wallet. Other apps such as Robinhood, and Cash app have easier UI. It's unclear where Coinbase will get long term growth.
by BryanBeshore on 12/17/20, 7:11 PM
I really wish more startups (if you can call them that at this stage) would go public earlier. There are so many companies I'd love to invest in at much earlier in their life. Coinbase is one of them for sure.
by sna1l on 12/17/20, 7:09 PM
This is a no-brainer with the huge run up in crypto that in the last boom was a huge profit inducer for Coinbase. Growth rates will also look great QoQ and YoY.
With the fed balance sheet growing and the current revenue multiples small-mid cap tech stocks are receiving, they should be able to raise substantially more money than previously expected.
It'll be interesting to see how much they expect to raise and of course their actual financials.
by H8crilA on 12/17/20, 7:17 PM
I am really curious as to what their spend looks like. Is it going to be the SV usual "exactly every extra dollar is spent on marketing" type of a deal? They probably don't need to do that.
by doanerock on 12/17/20, 7:26 PM
Is this just me or is this an oxymoron having a public announcement for a confidential submission.
by chrisked on 12/17/20, 9:59 PM
Curious if or how Coinbase Ventures will be described or valued in the S-1 filing. Does someone know if this will be in the filing?
They started corporate development very early in their journey. Portfolio here: (https://ventures.coinbase.com/)
by modeless on 12/17/20, 7:43 PM
I wonder if they will be traded exclusively on a traditional exchange like Nasdaq or NYSE. It would be disappointing if they couldn't do some kind of token thing so their shares could be traded with their own technology.
by supernova87a on 12/18/20, 7:10 AM
"Announces" + "confidential".
Does anyone else find that amusing?
by hnracer on 12/18/20, 8:42 AM
Coinbase effectively has regulatory capture when it comes to the actual trading and speculation business (not custody). All traders prefer the lower fee derivative exchanges for speculation and hedging such as Huobi, Okex, Bitmex and even Binance for spot. Just compare the volumes. But US customers are locked out.
by yalogin on 12/17/20, 11:57 PM
No one cares about the viability, future growth prospects, YoY growth prospects etc in this market. People seem to just want to throw money at everything. It would be foolish not to rake it in. Coinbase is doing the right thing. Every startup should go public now if they can, even more so if its a money losing one. Lot of irrationality in the market right now.
by cft on 12/17/20, 8:16 PM
Today's volume on Coinbase pro exchange is 45000 BTC. That's 1m in fees
by DSingularity on 12/17/20, 8:58 PM
How long does it usually take from submission to actual IPO?
by janandonly on 12/17/20, 10:03 PM
The HN frontpage is void of any mentioning of bitcoin braking this weeks all time high, but this one Bitcoin company makes it to #14.... how?
by Melting_Harps on 12/18/20, 7:25 AM
Maybe they should focus on making sure their exchange doesn't crash every time the price spikes, or actually get to the long list of people they simply locked out of their accounts instead going for another cash grab.
Coinbase is the the bane of the bitcoin ecosystem, in incompetence and shady practices. The only thing they haven't surpassed them is in lost coins, which still remains to be seen given how much they hold in custody for their customer base.
> Do you have $100M to invest? The rules are completely different for institutional investors and high-net-worth individuals.
Thanks YC for helping re-create the same BS that plagues the fiat World and its horrid corruption based on class and net-worth! Which is exactly what we sought to overthrow with Bitcoin. But... could we really expect any different when its founders are ex-Goldman Sachs?
Edit: Keep down voting, but its right there in the Genesis Block.